Shiba Inu Although its price has remained inactive for a while, it managed to move in the last 24 hours. The price recorded a daily high of $0.00002501, 9.4% higher than yesterday’s high of $0.00002266.
The rise in price helped recover the losses experienced this week. As Koinfinans.com reported, SHIB fell along with Bitcoin on Wednesday.
However, the current price of $0.00002501 represents an increase of over 20% compared to Wednesday. Here are five factors that cause the price to rise.
Five Factors That Raise Shiba Inu Prices
The crypto market decline that started on May 1 was stopped by the action of Bitcoin whales. Whales quickly purchased $2.8 billion in assets and reversed the trend. You can read the details of the news by clicking the link below.
Bitcoin Made the Expected Movement: Whales Are Changing the Market Dynamics!
The successful completion of the hard fork published by the Shiba Inu developer team for Shibarium is another detail that increases mobility. The community celebrates the stability of gas fees along with fast transactions.
Binance Japan’s introduction of the SHIB/JPY trading pair also attracted attention as a reflection of the “Japanese investor” narrative in the market. With the listing of the trading pair, price and volume skyrocketed on the Japanese stock exchange. Other exchanges such as Kraken also introduced new margin trading pairs for SHIB on their platforms this week.
There is also a development that will make Shiba Inu purchases possible for millions of US investors using PayPal. The new service offered by MoonPay includes positive details for many assets.
Source : The Crypto Basic